Client Communications

If today’s real estate consumer could press a button and not have to deal with an agent, they would. My Coaching Tip this week is about how to master client communications that will make the process really easy for the client.

A lot of clients are astute about the market, so when they see what they like they want to make an offer right away. Often they have a sense of urgency around a job relocation, or maybe they’ve just sold their house, or maybe this property is close to a school.

How you communicate with your vendor is important in making sure they’re ready to sell when the opportunity arises. You never want them to worry about what’s going on inside of their campaign. Have daily conversations with them around new listings and properties sold since your vendors listed theirs. Current listings and new competition can really impact your clients’ expectations.

If there are no offers there can be no decision. It’s important that your clients see that you’re doing the work to bring in the offers, and that the marketing is working. Be sure to maintain open, fluid client communications from day one of the campaign. As market dynamics change, you want your clients’ responses and expectations to change with them.

In your communications there’s a difference between helping people understand what is being said and saying it in a way that they can accept it. Your part is to learn to deliver that information in a way that is impactful and powerful.

I hope you’ve enjoyed today’s Coaching Tip, and I look forward to seeing you here again next week.

Using Technology to Scale Service

Drive service levels with new tech. Customer experience design matters. The customer want’s better. We live in a world where you press a button, and a car turns up, you press another one and dinner turns up, and you can press another button and have a new potential partner turn up.

Today’s consumer doesn’t want to buy, nor do they want to sell. They don’t want to use an agent. They don’t want to live where they currently are; they want to live somewhere else. If they could press a button and make that happen, they would.

In the new world, you have to redesign your customer service offering so that you can get more of the jobs done. What are the jobs the customer is trying to get done? What are the underlying jobs they also need to get done?

Technology helps to scale service. As software eats into the tasks lists, automation takes over and helps you to do more with less. If you don’t embrace new technologies, you get left behind and stuck in archaic time-consuming processes.

The role of technology is to make things easier so you can focus on the things that drive your business, like getting on the phone and getting in front of consumers.

Today’s consumer has unmet needs, unidentified needs and unsatisfied needs. The agent that can meet, identify and satisfy those needs is the one that wins. Technology allows you to scale the service by evolving systems. Systems like forms (to capture information), checklists (to ensure consistent service), visuals (to communicate powerful messages) and dialogues (to be more active on the phone) are the essential elements to scale a business.

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No one piece of software will ever be your solution. What you need to build is an app stack. Just like on your phone, it’s a group of apps that complete specific functions, so you can minimise stress, maximise output, drive efficiency and personal effectiveness. With API’s apps can talk to each other, sharing data, causing trigger events and automating essential elements of service, so you can focus on the real value adds.

When selecting technology look for the following:

1. What’s the problem you’re trying to solve?
What you think is the problem is rarely the problem. When you understand the problem you’re trying to solve you can put in the best system in place to get the result. Most people think prospecting is their issue, yet if they served their existing customers well, those customers would lead to more customers. Definition of the client service journey allows you to understand workflow – what needs to happen next? Moreover, who’s involved? What technology is required?

2. How does it work/play with your existing app stack?
Tech needs to talk, but not all tech is the same. Syncing needs to be two way, immediate and in the moment. As you scale and grow, you need a robust tech platform that can handle the load as you go from one office to many, one salesperson to a team.

3. Is it mobile first?
You can do everything on your mobile, make sure every app is mobile first, that way you keep your team mobile and your systems simple.

4. Does it scale, especially to multiple team members?
Workflow matters. As your team grows, you need adoption of all of your essential systems. How does the application work with multiple users and ensure there’s no wastage?

5. Can you talk to real life users and see it in play?
There’s nothing like seeing the technology in play and learning from power users who’ve mastered the tech. Seeing tech in new applications opens your mind to new possibilities. I’m ok with people only using 10% of an app if that 10% solves a significant problem.

You don’t need to be the best; you need to employ the best advisors to get the job done. Service is the way of the future, the secret to higher fee’s and return customers. Technology allows you to automate so you can focus your energy on what counts – real customer interaction.

This article first appeared in the REINSW Journal

Changed Agents Award Finalist – Bob Voss

Bob Voss from Barfoot and Thompson is one of our New Zealand Changed Agents Award 2018 finalists. This former swim champion shares how juggling a busy family life, all the while growing, was the biggest challenge of his life.

Bob Voss knows the definition of busy more than most.

“With two kids under two, it was late night wake-ups, interrupted sleep, managing a business, trying to stay fit, but also trying to put my family commitments in the diary first before anything else,” he explained.

As a real estate agent trying to lift his game, Mr Voss had to find a strategy that worked for him.

“Because I am very time poor with a young family at home, I had to make the hours at work count. I cut out all the unproductive work and focused on the dollar producing activities,” he said. “I set a structure in my business of what time I start work and when I get home (always home 5-7pm weekdays). I have since spent the same or less hours at work but got a lot more out of the hours.”

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Mr Voss said It was Josh Phegan’s training that gave him a better understanding of setting schedules for the days ahead.

“I focused on getting on the phones early, booking appointments with clients and getting face-to-face. I pretty much cut out social media, e-marketing, letterbox drops and put all my energy into building and working my database,” Mr Voss shared.

By doing this, he almost doubled the number of his transactions. “I felt a lot more in control at work and built a steady, solid pipeline of potential sellers. I also gained a lot more referrals by being genuine and adding value to people’s lives. I felt as if I was progressing the customer rather than harassing them,” he said.

Key to Mr Voss’ success is always putting the client first.

“I try to act as if every client was a family member of mine. How can I best help the client sitting in front of me, regardless of fees or business?”

Mr Voss represented New Zealand at three world swimming championships and was a New Zealand record holder. He believes he has trained himself to have great discipline, work ethic, and focus and has used these traits in his real estate business.

“I think I’m very patient and empathetic, which helps when it comes to understanding buyers’ and sellers’ stressful situations,” he said. Most importantly, building a successful business is about building a life and legacy for his two little girls.

“I’m not doing it just for myself; I want to grow our family’s wealth, so my kids can have the ability to pursue their opportunities in life with my financial backing.”

Ep 154 – Dominate Your New Market

In this High Performance Podcast for Real Estate Agents Josh Phegan and Alexander Phillips discuss ways to dominate your new market by building market share. Alex describes what his agency is currently doing in their newest market. Josh advises playing to your existing strengths and getting to know your new market area by spending time there. Alex adds the effectiveness of using your market knowledge and data in the right way and building on it from there.

Josh emphasises getting the intention to own the new market, and Alex details how dominance is built one step at a time. Josh adds choosing a marketplace that’s big enough for your aspirations and remembering that each new market leads upward to your next.

Make it easy to say Yes

Great questioning and dialogue leads the customer into a position where saying yes is natural. In my Coaching Tip today I’ll tell you how to make it easy to say “yes” by phrasing questions to your customers in a way that shows you understand what they want.

Start by thinking about the important conversations, like the listing presentation. I use a technique called “That’s Right” where I summarise everything I’ve discussed with the customer. The more I can get the customer to say “that’s right”, the more they know that I get them about their needs and their situation.

I’ll give you an example of one agent’s winning fee negotiation dialogue. His customer was deciding whether to go with him or another agent. He won the listing by using a simple methodology based on the question, “if you get what you want, can I have what I want?”

Getting people to say “yes” is about meeting three things: the unidentified, unsatisfied, and unmet needs of the customer. If you can identify, satisfy, and meet those needs, you change the value proposition. At the point where they’re ticking the boxes and saying, “Yes, yes, yes,” you’ve won.

A lot of agents concentrate on fixing the wrong problems, and that can result in the customer asking you questions like, “How long have you been doing real estate?” If you get a response like this from the customer, it’s because you exhibited some behaviour or action that looked out of place. Most likely, you asked the wrong question.

Great questions reveal a completely different conversation and ultimately make it easy to say yes. Once you learn how to ask the right questions you can lead people to say “yes” to you naturally. Help them to get clear about what success looks like for them and they’ll feel confident that they can make easy decisions with you.

I hope you’ve enjoyed today’s Coaching Tip, and I look forward to seeing you here again next week.

Ep 153 – When Deals Won’t Come Together

In today’s High-Performance Podcast for Real Estate Agents, Josh Phegan and Alexander Phillips are talking about what to do when deals won’t come together. It’s a common occurrence, and Alex shares some of the things he does to understand the problem and deal with it. Josh adds the importance of outcomes over positions in negotiation. They then discuss how agents need to filter communications between seller and buyer, and the necessity for buyers to get pre-approval in the current market.

If you’re in a locked deal Josh advises seeking input from a coach or another agent to get a fresh voice and point of view. He also reminds us to make sure you’re really listening and addressing what your client actually wants out of the deal.

Champions are good at the Basics

If you think about it, the entire goal of what you do at the office every day is about getting on the phone. That’s because getting on the phone is what gets you the appointments. My Coaching Tip today is about why champions are good at the basics because that’s what gets the results and the outcomes we want.

You’ve got to start making better decisions about what you’re doing as an agent to drive the activities that actually work. Too often we’re trying to solve the wrong problem instead of looking at what’s already working and doing more of that. Get a formula that’s going to work for you so that you feel like doing it more often.

The best in the business hit that higher level of success by getting the most out of every call and making sure they’re helping the customer to move forward. And that starts with getting yourself into a position where you’re energetic and driven.

Great agents focus on the behaviours and activities that lead to success, and they schedule those activities so they stay consistent and reliable. Be decisive in your actions, but if what you’re doing isn’t working, then adapt boldly and shift. Find new methods and technologies that will get you in front of more customers and lead you to the results you desire.

Champions are good at the basics because they’re also good at knowing what they want and doing what it takes to get it. They’re willing to look at the things that aren’t working and eliminate those preventable errors that can cost millions of dollars in fees each year.

What you need to do, then, is strip it all back to the basics. Get back to doing 45-minute call sessions. Get back to booking three appointments a day. Use the systems that work consistently and set you up for success. And keep fuelling the energy you need to get everything you want out of your career.

I hope you’ve enjoyed today’s Coaching Tip, and I look forward to seeing you here again next week.

What drives your people?

The secret to building a quality business is in knowing what drives your people. In my Growth, Leadership, and Management Tip this month we’ll look at why you need to take care of your people and understand why they’ve chosen to work inside of your organisation.

Your first challenge is in creating an environment for success. People join your firm because they’re looking for someone who can offer a vision that inspires them, an environment that supports them, and a place where they can be successful as real estate agents.

As a director, your job is to set that environment up and to do that you have to know those fundamental drivers. Whether your people want a great family life, or asset accumulation, or a Hawaiian vacation, work needs to be meaningful and people need to love what they do.

You can add fuel to that fire with regular reminders to keep them clear about their vision, like, “People who go to Hawaii make phone calls. They book appointments and they get listings. People who go to Hawaii make sales.” Give them that nudge as needed because this action leads to that result, and that gets you what you want.

When you’re energetic about what you do and you love to help your people, then you change as a director. You need to look after your people. Get clear about what drives them and remind them of it daily. By helping them take action and get the results they want to achieve, they, in turn, help you to achieve what you want as a business owner.

I hope you’ve enjoyed this month’s Growth, Leadership, and Management Tip, and I look forward to seeing you here again next month.

Ep 152 – Protecting Your Margins in a Shifting Market

In this High-Performance Podcast for Real Estate Agents, Josh Phegan and Alexander Phillips discuss protecting your margins in a shifting market, especially when some competitors are including marketing and styling with their fee. Alex advises selling yourself based on proven benefits you offer that others can’t. Josh notes how vendor investment creates motivation, and they continue around the Australian vendor-paid marketing model in contrast to marketing standards in other countries.

Josh explains reach and frequency of marketing programs, Alex elaborates on how quality marketing positions your brand in the marketplace, and Josh wraps up with the importance of selling the marketing that will attract the most interested buyers.

How to clean up your database

What would happen if you started ringing every single person who’s already in your database? In this Coaching Tip, I’ll show you why you don’t need another customer if you simply learn how to clean your database so that you can actually use it.

A lot of agents are afraid of the database because it’s not categorised. They don’t know who those contacts are or have all the information they should have about each entry. If you really want to get your business to move then you need to get these things cleaned up, organised and accessible.

Your database is built from buyers you’ve already met at an open for inspection, or after an inquiry from the real estate websites. With this in mind, you can just call them up like you would any other buyer. If you’re afraid you don’t know what to say, I’ve got you covered there, too.

I’m going to give you some basic dialogues that work for initiating the call, asking if the customer has bought yet or is still looking, inquiring about property management needs, offering relevant services, and finding out if they’re planning to sell.

What you’ll begin to see is that real estate dialogue is simple. Each question leads to the next, this leads naturally into that, which quickly leads to a solution you can provide. It’s a foundational formula and yet too many agents are missing millions of dollars in fees by not doing the little things that set you up for future success.

Learn how to clean your database and make those basic calls. You’ll quickly discover how simple, easy, and effective it is to just get on the phone and talk to the people who are already with you. The agent that wins is the one who knows exactly what to say to identify the problem that the customer needs you to solve. That is what great agents do.

I hope you’ve enjoyed today’s Coaching Tip, and I look forward to seeing you here again next week.